Russian Prime Minister Dmitry Medvedev approved a decree on the terms of the Far Eastern
mortgage" program for young families. The program provides for the issuance of loans for
purchase of an apartment at a rate of 2 percent for a total amount of up to 450 billion rubles. This was reported on the website of the government.
The Far Eastern
mortgage" program was initiated by Russian President Vladimir Putin.
According to the resolution, "DOM.RF" will reimburse banks for lost income on loans, issued from December 1, 2019 until the end of 2024 to young families and owners of the "Far Eastern hectare".
Mortgage will be issued at 2 percent per annum for up to 20 years in an amount not exceeding six million rubles for the purpose of housing construction in the Far Eastern Federal District .
Get
mortgage on
buying an apartment under this program is possible only once. At the same time, if borrowers do not live in
a purchased apartment, the interest rate may increase.
